Ann: Trading Halt, page-63

Hi Crabbe21,
I’m not adding much to the conversations shared today and we’ll all know soon enough on these first two OEL exploration wells.  My take on the trading halt is;
BigTex
In my view, BigTex will likely be a technical success (i.e. oil discovery) with commerciality dependant on oil column height, lateral / areal extent of the oil pool and reservoir quality - deliverability.
Weiss Adler-1
As of October 8^th, the well was at 17,012 feet measured depth, with the primary targets imminent at 17,125ft and 17,445ft measured depth – taken from MEL’s September 13^th Good Oil Conference presentation.

October 9^th, operator applied for a P&A permit (well spotted Stumpytrunk).  This implies that the primary targets at 17,125ft and 17,445ft measured depth are water-wet which is discouraging news but we await wait confirmation Thursday or Friday.

Fortunately, for one reason or another, we are in a trading halt, because if we weren’t, this publicly-available plug and abandonment information would likely be causing some SP speculation of the adverse kind.   Especially in the absence of a formal ASX announcement.

Sorry I can’t be more-specific but all will be revealed Friday or perhaps earlier.

Kind regards OldGeo